With the new contract in place, iWOW’s current order book has been lifted to approximately $106.5 million, a 26% increase from $84.7 million as of June 30.
A wholly-owned subsidiary of iWOW Technology has been awarded a contract worth an approximate value of $20 million for the installation and maintenance of smart city infrastructure for a Singaporean customer.
The contract will consist of supply and installation works, which is expected to be fulfilled over the next 12 months, a two-year defects liability period and a 10-year maintenance component, which is expected to commence subsequent to the defect liability period, up till the financial year ending March 31, 2037.
